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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Component of Income Taxes

Years ended December 31, 

    

2019

    

2020

    

2021

(In millions)

Expected tax expense, at U.S. federal statutory income tax rate of 21%

$

6.0

$

2.9

$

12.8

Non-taxable dividends received from Kronos

 

(5.3)

 

(5.3)

 

(5.3)

U.S. state income taxes and other, net

 

(.1)

 

(.1)

 

Income tax expense (benefit)

$

.6

$

(2.5)

$

7.5

Components of income tax expense (benefit):

 

  

 

  

 

  

Currently payable

$

.2

$

$

Deferred income tax expense (benefit)

 

.4

 

(2.5)

 

7.5

Income tax expense (benefit)

$

.6

$

(2.5)

$

7.5

Comprehensive provision (benefit) for income taxes allocable to:

 

  

 

  

 

  

Net income (loss)

$

.6

$

(2.5)

$

7.5

Additional paid-in capital

 

(.2)

 

(.1)

 

Other comprehensive income (loss):

 

  

 

  

 

  

Currency translation

 

(.1)

 

.9

 

(.4)

Pension plans

 

(.8)

 

(.7)

 

3.2

OPEB plans

 

 

(.1)

 

Total

$

(.5)

$

(2.5)

$

10.3

Components of Net Deferred Tax Liability

December 31, 

2020

2021

    

Assets

    

Liabilities

    

Assets

    

Liabilities

(In millions)

Tax effect of temporary differences related to:

Inventories

$

.4

$

$

.5

$

Marketable securities

 

 

(3.6)

 

 

(7.0)

Property and equipment

 

 

(2.6)

 

 

(2.7)

Accrued OPEB costs

 

.3

 

 

.2

 

Accrued pension costs

 

.5

 

 

.5

 

Accrued employee benefits

 

1.1

 

 

1.3

 

Accrued environmental liabilities

 

29.1

 

 

26.7

 

Goodwill

 

 

(1.7)

 

 

(1.7)

Other accrued liabilities and deductible differences

 

 

 

.2

 

Other taxable differences

 

 

(2.3)

 

 

(2.3)

Investment in Kronos Worldwide, Inc.

 

 

(55.0)

 

 

(59.8)

Adjusted gross deferred tax assets (liabilities)

 

31.4

 

(65.2)

 

29.4

 

(73.5)

Netting of items by tax jurisdiction

 

(31.4)

 

31.4

 

(29.4)

 

29.4

Net noncurrent deferred tax liability

$

$

(33.8)

$

$

(44.1)